TORM (NASDAQ:TRMD) Price Target Lowered to $32.00 at Jefferies Financial Group

TORM (NASDAQ:TRMD) had its target price lowered by research analysts at Jefferies Financial Group from $37.00 to $32.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective suggests a potential upside of 40.04% from the stock’s previous close.

TRMD has been the topic of a number of other reports. Fearnley Fonds upgraded TORM to a “hold” rating in a research report on Friday, September 27th. Evercore ISI upped their target price on shares of TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd.

TORM Trading Down 3.3 %

NASDAQ TRMD opened at $22.85 on Thursday. TORM has a twelve month low of $22.72 and a twelve month high of $40.47. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. The company’s 50-day simple moving average is $30.40 and its 200 day simple moving average is $34.72.

TORM (NASDAQ:TRMD) last released its quarterly earnings data on Thursday, August 15th. The company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.03. The company had revenue of $437.70 million for the quarter, compared to analyst estimates of $325.38 million. TORM had a return on equity of 34.45% and a net margin of 43.81%. During the same period in the prior year, the company posted $2.14 EPS. As a group, analysts predict that TORM will post 6.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TORM

A number of hedge funds and other institutional investors have recently bought and sold shares of TRMD. National Bank of Canada FI acquired a new stake in TORM in the 2nd quarter valued at about $26,000. Assetmark Inc. grew its stake in shares of TORM by 76.9% during the third quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock valued at $41,000 after purchasing an additional 516 shares during the last quarter. Fifth Third Bancorp acquired a new stake in shares of TORM in the second quarter valued at approximately $43,000. Syquant Capital Sas bought a new position in TORM in the 2nd quarter worth approximately $46,000. Finally, Headlands Technologies LLC acquired a new stake in TORM during the 1st quarter worth $51,000. 73.89% of the stock is owned by institutional investors and hedge funds.

TORM Company Profile

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.